You can use string interpolation in combination with a dictionary for simple formatting.

print "My name is %(name)s and I have $%(change)0.2f in change in my pocket!" % { 'name': 'Sean', 'change': 00.23 }
# My name is Sean and I have $0.23 in change in my pocket!

For the precision of floats you you need to use "0.2f" after the interpolation expression, where the "2" is how many decimal places to use.